Southbound 2x Long Coinbase ETF Drops Over 3% as Coinbase Q3 Revenue Misses Estimates and Full-Year Adjusted Expense Guidance Is Lowered Again

Stock News13:48

The Southbound 2x Long Coinbase ETF (07711) fell more than 3%, last down 2.74% at HK$16.69, with turnover of HK$534,700.

On the news front, after the U.S. market close on October 29 (early morning Beijing time on October 30), Coinbase Global, Inc. (COIN.US) released its third-quarter 2026 financial results. Total revenue was US$1.216 billion, down about 35% year over year and below the expected US$1.233 billion. On the business side, the company's transaction revenue was US$590 million, halved year over year (-44%), but above the market expectation of about US$527 million; retail spot trading volume fell 59% year over year.

In terms of guidance, the company expects fourth-quarter subscription and services revenue of US$550 million to US$630 million; as of October 25, fourth-quarter transaction revenue was about US$165 million. The company also lowered the midpoint of its 2026 adjusted expense guidance by another US$100 million to US$4.15 billion to US$4.3 billion.

In addition, regulatory filings show that 10b5-1 stock sale plans by three executives, including CEO Armstrong, cover a combined roughly 13.6 million shares (about US$2.2 billion).

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